Last week’s Formula One event, the Las Vegas Grand Prix, not only brought high-speed action to the heart of Sin City but also set a new precedent in the world of sports betting. Leveraging the allure of Las Vegas, the event became a magnet for race enthusiasts looking to back their favorite drivers, propelling the Grand Prix to become the most bet upon Formula race in the history of many sportsbooks.
The wave of wagers wasn’t limited to physical betting windows but inundated the digital domain as well. DraftKings, a titan in the online sportsbook industry, reported that the Las Vegas Grand Prix shattered their records for handle—the total amount of money bet by patrons—and the number of individual wagers placed, a historic moment marking the first Vegas F1 race in forty years. It soared past the previous record-holder, the 2021 Belgian Grand Prix, establishing new benchmarks for the sport.
Gaming companies, particularly those operating in Nevada, both on the ground and online, are now echoing the same tune: this Las Vegas event raced ahead of all other Formula One races in their wagering histories. DraftKings took it a notch higher, laying out statistics that reflect a burgeoning interest in Formula One betting among domestic gamblers.
The landscape of sports betting has mostly been dominated by American football in the States, while soccer continues to capture Europe’s betting heart. But signals are strong that Formula One is carving out its niche, with significant growth evident over the recent years.
According to DraftKings’ data, the surge in F1 wagering is backed by hard numbers: nine of the top ten highest handle F1 races took place since the 2022 season kicked off, and within that exclusive list, six are from this current year, including the Las Vegas Grand Prix and its Floridian counterpart, the Miami Grand Prix.
The pattern continues when considering the volume of bets, with the top ten F1 races inundated with the most wagers all taking place after 2020, seven from this year alone—Las Vegas and Miami Grand Prix being notable contributors.
Despite the impressive betting turnout for the Las Vegas Grand Prix, it’s noteworthy that DraftKings, alongside their competitor FanDuel, operates without physical or online presence in Nevada. This fact underscores not just the enduring appeal of F1 racing, but its escalating resonance with sports betting enthusiasts far beyond the state lines. It’s a strong indicator that DraftKings’ eventual foray into the Nevada market is not a question of ‘if’ but ‘when,’ and yet without a present stake in Nevada, the Las Vegas F1 race proves that the company can still reap significant rewards.
In a time where connecting with what people are truly passionate about is key, one might be curious about where else such engagement can be found, especially within the realm of online entertainment. For those thrilled by the spin of the wheel, the shuffle of the cards, or the enticing chance to hit the jackpot, you might be pleased to discover that we at West Island Blog have curated a top selection of online casinos for this month, featuring platforms that promise to deliver just as much excitement as a Formula One race—accessible right from the comfort of your own home.
